Expert has sympathy for Halifax mortgage confusion

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Expert has sympathy for Halifax mortgage confusion

A housing industry expert from Alexander Hall has revealed that he has sympathy for Halifax's recent plight.

Lloyds Banking Group this week came to a voluntary agreement with the Financial Services Authority regarding confusion caused by the wording of documents released by Halifax.

Alexander Hall chief operating officer Andy Pratt said he sympathises with the mortgage provider, explaining that it can be difficult to keep customers up to date with changes to terms and conditions.

He described how many people do not read notifications sent to them by post, with messages sent online proving to be a more effective system.

"I have some sympathy, but I think communication is increasing now with people largely receiving notifications by email," Mr Pratt remarked.

The expert urged people to ensure their lender has the right email address for them, since this will give them a better chance of staying informed.

In his opinion, historically there has been very little communication between banks and customers regarding rate changes.

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